Samco receives final approval from Sebi to start its MF business

With this, Samco, an online discount stock broker, will be the 45th player in the Rs 33-trillion MF space

Indian Mutual Fund (MF) industry which has seen substantial growth in the last few years has started attracting new players in its fold.  Samco Securities has received final approval from Securities and Exchange Board of India (Sebi) for setting up MF in India.

Samco, which is an online discount stock broker, will be the 45th player in the Rs 33-trillion MF industry. Founder Director Jimeet Modi of Samco Asset Management Pvt Ltd said in the press statement stated, “The Mutual funds space is ripe for disruption with a massive opportunity to create huge value for investors and we at SAMCO